Tablet Coatings Market Size, Share, Growth Analysis, By Type(Sugar Coating, Film Coating, Enteric Coating, and Functional Coating.), By Application(Pharmaceutical Industry, Nutraceutical Industry, Food Industry, and Others.), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15E2260 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 65 | Figures: 75

Tablet Coatings Market Dynamics

Tablet Coatings Market Drivers

Increasing Generic Drug Production

The rise in the production of generic drugs has led to an increased demand for tablet coatings. Generic drug manufacturers utilize these coatings to create unique appearances and differentiate their products in the market. Tablet coatings play a crucial role in branding and product identification, enabling generic drug manufacturers to establish their offerings and compete effectively.

Tablet Coatings Market Restraints

High Development and Production Costs

The development and production of tablet coatings entail substantial expenses, including research and development costs, formulation optimization, and investment in manufacturing equipment. These costs can present a barrier, particularly for smaller manufacturers or those operating in price-sensitive markets. The financial burden associated with developing and producing tablet coatings can impact the profitability and competitiveness of companies in the market.

Tablet Coatings Market Report Snapshots

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Tablet Coatings Market size was valued at USD 80 million in 2021 and is poised to grow from USD 85.84 million in 2022 to USD 150.83 million by 2030, growing at a CAGR of 7.3% in the forecast period (2023-2030).

The competitive landscape of the tablet coatings market is driven by factors such as product innovation, research and development activities, and customer-centric approaches. Companies focus on developing advanced tablet coating formulations that offer improved functionality, such as enhanced drug release profiles, extended shelf life, and improved patient compliance. Innovations in coating technologies, such as the development of eco-friendly and sustainable coatings, are also gaining prominence in response to growing environmental concerns. 'Colorcon Inc. (US)', 'BASF SE (Germany)', 'Evonik Industries AG (Germany)', 'Ashland Holdings Inc. (US)', 'Roquette Frères S.A. (France)', 'Kerry Group plc (Ireland)', 'Dow Inc. (US)', 'Merck KGaA (Germany)', 'Shin-Etsu Chemical Co., Ltd. (Japan)', 'Croda International Plc (United Kingdom)', 'Eastman Chemical Company (US)', 'Sensient Technologies Corporation (US)', 'Coating Place, Inc. (US)', 'Ideal Cures Pvt. Ltd. (India)', 'Sirio Pharma Co., Ltd. (China)', 'JRS Pharma (Germany)', 'Colorcon Ltd. (United Kingdom)', 'Biogrund GmbH (Germany)', 'ACG Worldwide (India)', 'SEPPIC (France)'

The rise in the production of generic drugs has led to an increased demand for tablet coatings. Generic drug manufacturers utilize these coatings to create unique appearances and differentiate their products in the market. Tablet coatings play a crucial role in branding and product identification, enabling generic drug manufacturers to establish their offerings and compete effectively.

Growing Demand for Functional and Specialty Coatings: Tablet coatings are not only used for aesthetic purposes but also serve functional and protective roles. Manufacturers are increasingly focusing on developing coatings with specific functionalities, such as extended-release coatings, enteric coatings, taste-masking coatings, and moisture barrier coatings. These coatings enhance the performance and effectiveness of tablets by controlling drug release, protecting sensitive ingredients from degradation, improving patient compliance, and masking unpleasant tastes.

North America holds a significant share in the tablet coatings market due to several factors. The region has a well-established pharmaceutical and healthcare infrastructure, along with a strong presence of key pharmaceutical manufacturers. The demand for tablet coatings in North America is driven by factors such as increasing research and development activities, high healthcare expenditure, and the presence of advanced pharmaceutical manufacturing technologies. Additionally, the region has a higher adoption rate of innovative coating technologies and a focus on quality control and regulatory compliance, further contributing to its dominance in the market.

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Tablet Coatings Market Size, Share, Growth Analysis, By Type(Sugar Coating, Film Coating, Enteric Coating, and Functional Coating.), By Application(Pharmaceutical Industry, Nutraceutical Industry, Food Industry, and Others.), By Region - Industry Forecast 2024-2031

Tablet Coatings Market Dynamics

Tablet Coatings Market Report Snapshots

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